Lands’ End (NASDAQ:LE) to Repurchase $100.00 million in Stock

Lands’ End (NASDAQ:LE) declared that its board has initiated a share repurchase plan on Wednesday, April 1st, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 28.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Lands’ End Stock Up 2.8%

LE opened at $11.56 on Thursday. Lands’ End has a fifty-two week low of $7.65 and a fifty-two week high of $20.04. The firm has a market capitalization of $355.47 million, a P/E ratio of 64.23 and a beta of 2.49. The company’s 50-day moving average is $15.97 and its 200 day moving average is $15.56. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.61 and a quick ratio of 0.41.

Lands’ End (NASDAQ:LE) last issued its quarterly earnings data on Thursday, March 19th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The firm had revenue of $462.37 million during the quarter, compared to the consensus estimate of $471.01 million. Lands’ End had a return on equity of 9.80% and a net margin of 0.41%. Research analysts expect that Lands’ End will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LE. Weiss Ratings reissued a “hold (c)” rating on shares of Lands’ End in a research note on Monday, December 29th. Wall Street Zen downgraded Lands’ End from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Lands’ End currently has a consensus rating of “Hold”.

About Lands’ End

Lands’ End, Inc (NASDAQ: LE) is an American retailer specializing in casual apparel, accessories and home goods. Headquartered in Dodgeville, Wisconsin, the company sells its products through a combination of direct-to-consumer channels including e-commerce, catalogues and a network of outlet stores. Lands’ End is known for its nautical-inspired designs, functional outerwear and commitment to quality fabrics.

Founded in 1963 by Gary Comer as a mail-order sailing supply business, Lands’ End rapidly expanded its product offering beyond marine gear.